HDFC Bank, RBL Bank, Supriya Lifescience, Vedanta, Adani Group stocks in focus today

India VIX has regained 17 levels yet again, surging 6% on Monday as headline indices rallied.

Stocks to watch out
Stocks to watch out. (Image: REUTERS)

Domestic equity markets have started the week on a positive note, registering gains on the first day of trade. Broader markets mirrored the up-move charted by benchmark indices but India VIX too soared higher. The volatility index regained 17 levels, jumping 6% on Monday. “FII selling has reduced sharply over the last few days due to the festive holidays. Markets are expected to remain sideways until the end of the year due to lack of triggers,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. He added that third-quarter results season and build up to the upcoming budget session would be key events that the market would be looking for next month.

Stocks to watch:

Supriya Lifescience: Shares of Supriya Lifescience will list on the stock exchanges today. The Rs 700 crore IPO of Supriya Lifescience was subscribed 71.51 times earlier this month with Non-Institutional Investors bidding for their portion 161.22 times. The retail portion was subscribed 56 times and QIB portion was bid for 31.83 times. Shares were offered in a fixed price band of Rs 265-274 per share.

RBL Bank: Reserve Bank of India on Monday stepped in to assure investors and depositors that RBL Bank’s financial health remains stable even as the central bank has stepped in. RBL Bank stock tanked 25% on Monday before ending the day 18% lower.

HDFC Bank: The country’s largest private lender HDFC Bank has tied up with India Post Payments Bank (IPPB) to offer its banking services to the unbanked and underserved segments in semi-urban and rural areas. 

Godrej Properties: Mohit Malhotra, MD & CEO of GPL in an interview with Financial Express said that price hike is “inevitable now” to help improve margins for developers. He also added that the company is evaluating all opportunities as consolidation is gaining ground in the sector. 

Siemens: A Joint Venture between TRIL Urban Transport Private Limited, a Tata Group Company, and Siemens Project Ventures GmbH, a subsidiary of Siemens Financial Services, under Public Private Partnership Route will develop the metro corridor from Hinjewadi to Shivajinagar. The 23.3 kms corridor with 23 stations will be the first metro project in India under the New Metro Rail Policy.

Axis Bank: The private sector lender informed the stock exchanges on Monday that the RBI has approved the re-designation of Rajiv Anand as the Deputy Managing Director till August 3, 2022. 

Vedanta: Anil Agarwal-led Vedanta said that its Committee of Directors at its meeting held on Monday considered and approved offering for subscription, on a private placement basis,  Non‐Convertible Debentures (NCDs) of face value Rs 10 lakh each aggregating up to Rs 1,000 crores. 

Adani Group: Adani Group will begin exporting high quality, low sulphur coal from its Carmichael mine in Australia as early as this week, tapping a new multi-decade source to meet energy needs.

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